When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the quantity of labor supplied is higher and the quantity demanded of labor is lower than at the equilibrium wage

What will happen to profits and domestic prices when a quota is used to protect a domestic monopolist from international competition?

a. Profits will fall; domestic prices will fall. b. Profits will fall; domestic prices will rise. c. Profits will rise; domestic prices will rise. d. Profits will rise; domestic prices will fall.

If demand for a good increases and supply remains constant equilibrium price:

a. Will increase, and equilibrium quantity will decrease b. And quantity will both increase c. And quantity will both decrease d. Will decrease, and equilibrium quantity will increase